Business

Hapro falls short of revenue target

Released at: 09:37, 08/01/2016

Revenue at local giant in 2015 still higher than in 2014 and sights set on 5% growth in 2016.

by Minh Tuyet

The Hanoi Trade Corporation (Hapro) earned revenue of VND5.77 trillion ($256.47 million) in 2015, 95 per cent of the target and equal to 105 per cent of its revenue in 2014, according to its 2015 business report.

Export revenue was VND3.453 trillion ($153.48 million), accounting 60 per cent of the total and 91 per cent of its target, and was 110 per cent of 2014’s result. Domestic revenue was VND2.317 trillion ($102.99 million).

Total import and export turnover was $162 million. Import turnover was $8.5 million, equal to 80 per cent of the figure recorded in 2014.

Its export result was pleasing, according to the report. Traditional key markets have been Japan, the US, and the EU, but last year it also penetrated into new markets such as Spain, Africa, Eastern Europe, and Singapore. Goods recording stable business growth included cashew nuts, pepper, and clothing.

Hapro also revealed its progress in equitizing six of its subsidiaries. Three are now joint stock companies, two have conducted an IPO, and one is preparing for its IPO.

In 2016 Hapro targets earning revenue of VND6.032 trillion ($268.122 million), a 5 per cent increase compared to 2015. 2016 import and export turnover are expected at $160 million and $11.5 million, respectively.

To achieve its targets it has adopted three key strategies: focusing all resources on accelerating export activities; restructuring its business methods, improving the quality of its human resources, and expanding domestic markets; and maximizing all financial resources and infrastructure.